Bank of England sounds the alarm on consumer debt
The Bank of England has expressed concern over the rising levels of consumer debt in the UK, which increased by 10.3% in the 12 months through April 2017.
According to the central bank's latest Financial Stability Report (FSR), released on June 27, consumer debt has risen “markedly faster” than nominal household income.As a result of the growth in consumer indebtedness, the bank is bringing forward the assessment of stressed losses on consumer credit lending in its ...
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